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are changes looking in this rally right now? >> i think the amazing thing, and you're going to talk to jeff sprecher, maria, in a couple of minutes. i want to point out the exchanges are all hitting new highs today. the volume has been light. i.c.e., new high. i think people are starting to understand the synergies there. cboe, that's a new high. they locked up the s&p options contract for at 14 years. they just announced that. that's a big steal. but nasdaq's at a new high as well, cme, chicago merck, also at a new high. virtually all of them. but on stocks, the volumes keep dropping, and that's the primary driver that we're looking at here. so here's your average daily volume, so far. 6.4 billion, for the first quarter of 2013. last period, 6.8 billion. and first quarter of 2012 was lower than the first quarter of 2011. finally, that s&p 500, i want to point out, there's your 12-year chart. this is a triple top. 1565 would be a new historic closing high for the s&p. but we were here in 2007, a little bit below that, and also right near it as well in 1999/2000. guys, back to you. >> thank
of the way which people are concerned about in the short term. >> does today's number change your mind in terms of when the fed starts winding back given the fact that the employment number is definitely much better than everyone expected? >> much better. economists like to see trends. one month does not make a trend. they are going to make sure that it is gaining traction, and then they will start talking about using words about the overall economy, making it stronger, better. the ten-year yield has crossed over, too, after the data came out this morning. we expect it to see higher, but the fed is even talking about keeping their balance sheet exactly the way it is and letting run off so that the market doesn't suffer dislocations. >> have to run here, folks. let me take a quick survey. everybody likes this market of the four guests we have here. who expekts a correction and how much of a correction do you think could happen? rich? >> we could be in a quiet period. 95% of s&p 500 companies have reported earnings. not going to see earnings coming back until april. alcoa coming out so d
and the s&p 500. looks like this, a similar chart pattern, decline of the session right now of 5 and change. >> let's get to today's closing number with four very smart people. we have carol roth, brian bellski, michael holland, and our own rick santelli. welcome to all of you. ladies first. you're getting some of your merger activity, carol, that you've been looking for, even as this market goes higher. >> absolutely, bill. as we've been saying, buyouts are going to continue and they're going to continue. and i think that this really is a stock picker's market. and if i'm going to put my money anywhere, and i have, the one that i really like is bed bath and beyond. i mentioned this on the program a couple weeks back. it has now been validated in a number of publications. you have a company that's trading at a very reasonable valuation. it's got a net cash position and a very high historical return on invested capital. so to me, that creates a really good recipe for a potential buyout, and i think that that name and potentially others in the luxury goods sector, as well as throughout consum
? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to present some opportunities. you have some opportunities, perhaps selectively in companies like adidas. nestle, as long as you're conservative and look for some dividends and look for some growth names that have good market penetration with consumers on a more affordable ba base, i still think there's opportunity in europe. the thing i would be concerned about right now is china. i'm a little concerned that china is starting to losing handle on what's happening in their economy, in terms of what's happening with real estate prices. that's something you've got to look at very carefully. >> okay. steven hammers, you've been skeptical of
in colorado, so it is changing the landscape around where these opportunities reside. it's economic development for the states, for the local communities. it's driving tremendous changes. go to north dakota and see what's happening up there in this state. what we're doeg doing here in texas and what's happening in colorado and in colorado. it is changing the landscape and changing it for the better helping the economy goes. these are great jobs with good benefits in this industry. >> finally, sir, when would be a reasonable time frame to expect margin expansion? >> well, we'll start seeing that. we'll start seeing that this year as new projects come online. we've got startups coming in malaysia and europe and continued rampup of our unconventional positions, the eagleford and the permian base and the bakken and we'll see those margins continue as we expand that growth. it doesn't have to wait. it starts 2013. >> my thanks to ryan lance. we've got 35 minutes before the closing bell sounds for the day. we've got a market up 50% on the dow jones industrial average. new record territory
that first half hour of trading. up 29 right now at 14,084 and change. the old high, all time, is 14,164. nasdaq is up 7 points at 3167. apple has been struggling today, and the s&p right now is up 3.33 at 1517. keep in mind the dow is on pace for its ninth straight gain of a friday meaning it has closed positive every single friday so far in 2013, and it's the first trading day of the month, so finishing in the green can often be a good sign for the entire month. are we grasping at straws here, maria? >> a lot of indicators to look at, and certainly a lot of analysis on what the first two months of gains mean for the rest of the year. let's get right to the closing bell exchanged. joined by brian beleskey and david greenlaw from morgan stanley, david katz from matrix asset advisers, and our own rick santelli. gentlemen, thanks for joining us. appreciate t.david greenlaw, let me kick this off with you. what are you expecting as we approach the close here as we know that here we are on the day that sequester cuts will take effect? any big surprises, you think, in the next hour? >> i'm
gone up. he's not changing his tune though at all. >> yeah. joining us on the phone from thailand marc faber, managing director of marc faber limited. he's publisher the "gloom, boom and doom" report. marc, good evening, good morning wherever you are? >> good morning for me, thank you. >> thanks for joining us. >> and thank you very much for the very kind introduction. >> well, plenty of people, you're not alone, have been saying they expect the u.s. stock market to go lower. they expect gold to go higher. in your view why hasn't that trade worked out yet? >> well, first of all, since the year 2000 when some people in media organizations were touting stocks, gold has way outperformed stocks. in recent months it is true that stocks have performed better than gold, but it's a different risk profile. secondly, i'd like to just remind you and your viewers. today is march 777, 2013. march 6, 2009, exactly four years and one day ago the markets bottomed up. we're up very substantially. >> right. >> i think investors today are rushing to stocks to be reminded of that. >> okay. but, i mean, wh
in the short run, between unemployment rate changes and growth during this recovery, and there have been periods, at least, where unemployment has fallen relatively quickly, even though growth has been more limited. so we're just going to have to monitor developments in the economy and see what happens. you're right that we're not forecasting extraordinarily strong growth, but it is also true, as i think you noted, that our projections for unemployment in the fourth quarter are noticeably lower than they were in september when we first announced this asset purchase program. so there has been some improvement in the outlook, as measured by that metric. but you're right, you know, we do need to see a sustained improvement, one month, two months doesn't cut it with, and normally, you would expect that you would need to see a reasonable pace of gdp growth in order to achieve that. so we're just going to have to keep providing support for the economy and see, you know, see how things evolve. >> hi, chairman, victoria green with the dow jones newswires. in the stress test that the fed recently
? how have the standards changed? >> you know, it has been. and they're pushing for more transparency, regarding what chemicals are used, but where we come in, we eliminate those chemicals almost entirely. we allow these companies, we have technology that allows these technologies in realtime to clean their water, recycle it, and reuse the water. so we're eliminating chemicals and we're also reducing dramaly the trucking that's involved with fracking, because they can reuse the water right on site. so it's been really effective for us. our company is growing very quickly and we're excited about the future. obviously, natural gas is so important to our energy independence, and if we can help solve one problem for the industry, we feel like we can be an important piece of that puzzle. >> you're growing, but you've admitted that there are obstacles to that growth. and one of them is convincing the big energy companies to adopt something new like this. does that mean it's maybe not as cost effective for them as other technologies, the ones that use the chemicals, for example? >> no, we ac
, u.s. stocks are roar back. we'll tell you what's happening and why. plus, a lot can change in the final hours, as you know. we have full coverage, coming up. >> exclusive insight just ahead from billionaire john calamos, the ceo and chief investment officer of the firm he founded nearly 40 years ago that bears his name. you don't want to miss his take on these markets. he has a very long-term perspective and where he says we're headed next, we'll want to hear. >> i think it might be surprising. >>> more trouble for j.pmorgan and its ceos. investigating whether that firm broke the law about not alerting the feds regarding bernie madoff. >>> in the markets, let's show you what's happening. the dow was down 120 points on the open this morning. just a huge correction from yesterday's gains. but we've been crawling back, ever since. the dow now down 33 points at 14,526. the market has now turned positive after that opening sell-off, now up. the s&p needs to be up 1.38 points to hit finally, once and for all, a new all-time high. we're not there yet. down 1.6 points at 1562. will
, the imbalances can change when the hour progresses and the poker game changes. >> andres, what do you like? you consider this market still a good value. where do you see the best value right now? >> to your earlier comments, it is going to become a stock picker's market, right? going to become a little tougher just to throw a dart and hope that you hit everything, so you are going to have to look at specific sectors and look at materials, for instance, a group that's hated for the last couple of years, and if you're in the camp like i am that china is going to reaccelerate this growth, sectors like materials, sectors like industrials will do well. >> mike santolli, what do you make of the skepticism that's pervasive in the investor world about these highs? >> i really see a bifurcated psychological breakdown right now. the people who have been involved, the people who invest money for a living, i think they are mostly on board with the bullish story. you've seen that in a lot of the professional sentiment surveys, but there's a real reservoir of skepticism out in the broad public. there's a per
, the s&p 500 gets rebalanced. they change the weightings of the stocks. exxonmobil, at&t and pfizer have had very active buyback programs. they'll have stocks to sell at the close. citigroup actually added stocks. they'll have stuff here. >> thank you so much, bob. >> heading towards the close, here we go, 50 minutes left in this trading session. the dow needs a positive close to be at an all-time high and the s&p needs to be only up 1.92 at an all-time closing high. but it's in jeopardy right now. we'll keep an eye on this. >> what did we say yesterday? buckle up. >> that's right. again. >> jpmorgan under the microscope today and on the hot seat on capitol hill. >> let me be clear, jpmorgan completely disregarded risk limits and stonewalled federal regulators. it is unsettling that a group of traders made reckless decisions with federally insured money and that all of this was done with the full awareness of top officials at jpmorgan. >> we're going to take you live to washington and get the latest on this hearing. plus, one of our next guests says jpmorgan chairman and ceo jamie dimon
. the dow right now up 93 points. at the high of the session, the dow was up 108. 15,549 and change is the all-time closing high for the dow, so we're in that area right now. the nasdaq also higher today. that rally putting us up 10 plus points right now at 3246. and the s&p, we're about five points, a little less than five points away from the all-time high, now up nine points at 1565. so we are on all-time high watch in this fine hour of trade, moving back to camera five. this marks the sixth attempt, this month, that the s&p 500 has come within five points of that closing high. it's been teasing us all this time. maybe sixth time is the charm. >> we'll see. it feels like it down here. the mood is the right mood, i think. so in today's "closing bell" exchange, joining us, carol roth, cnbc contributor from intercap merchant partners. jeff kleintop from lpl financial, our own rick santelli, and paul shotts from heritage capital as well. carol, i'm going to start with you. it does have a good feel today. we seem to be brushing off some of those cyprus worries. what's your take on the
to change in order to steal some of those customers away? >> well, paypal is still way outfront, jon, as you know. and at south by southwest two weeks ago, we launched our new developer platform, including the mobile payments library. and what that enables developers and merchants to do is to bring paypal's mobile capabilities into their mobile apps, seamlessly and easily. and give consumers choice. they'll be able to pay and sign up to pay just by flashing a credit card, you know, taking a picture with your smartphone, a picture of your smartphone, and boom, you've created an account, and boom, you can pay right there. so it's still early days in this, and paypal's got a lot of innovation, both at the small end, and then, as you know, at the larger end of retailers and large retailers, globally. >> talk to me about the global picture, in fact. perfect segue, thank you for that. >> happy to help, sue. >> specifically as it refers to china. ali baba has had a significant presence in china. is that a market that you think that you can aggressively compete, ali baba in, or are you looking at ot
, but essentially things have changed. corporations are in great shape. it's a great story probably for another time. >> dani, what's he got wrong here? >> i just think, again, it could happen once again that japan could fall on its face. there's not been a case for japan in 20 years. so we'd like to see that start to overcome itself before we take action in japan. >> keith bliss, what's the catalyst you're looking for in this market that would send it lower, do you think? >> there's anything that could happen. we're just waiting for that match to light the fuse. you saw it last monday with the italian elections where we had a steep selloff. as we trade through the month of march and the next disaster that may be looming in washington is just the thing that could do it. or the economic data turn south. we'll soo a buildup in the excitement of the market. maybe not positive, maybe negative as the week goes through. and some of the other data. if that job reports just a bit to the downside, we could assess that level. that's a key level in the s&p. there's no reason to think we can't go down to 1450 o
the metrics instantly change on how good equities look? >> we've got 35% higher profits, rick. >> hang on, lee. danny, would that be big competition if yields got that high? >> corporations still have a tremendous amount of money. they still have to deploy that money in one form or another. dividends have been on the increase. we've seen a lot of stock buybacks as well. but corporations aren't putting people to work anymore. i do think that that is what people are waiting for. people are waiting to see those jobs numbers increase before they get into the market. >> go ahead, lee. >> you know, first of all, that last point, you know, if you wait until everybody's fully employed and we get down to 4% or lower, that's when the market's going to be fully overpriced. and i would say that, you know, to rick's point there, you know, there's no other game in town than stocks. stocks earn a lot and we have 35% higher corporate profits than we did back in 2007. just because retail investors are buying right now, i don't think it means that the markets are devalued or stupid or wrong. i think people are
is the rule of law being brought into question. can rules about depository insurance change over the course of a weekend? i think the size of cyprus right now, what it represents directly is not a threat. we're assessing. but if this is contained in some broader bailout oriented scheme, i think it could be something weathered by the markets. that said, the rule of law being brought into question is not a good thing. >> steve sacks, are you seeing a reaction in some of the european etfs out there? or are you seeing the same kind of money mentality going into exchange traded funds? what are you seeing out there? >> maria, it's really the same reaction we're seeing in broader equities today. you know, basically an overreaction. you know, we saw higher volumes in volatility spike on the open this morning with that gap lower. we've seen volumes in money flows just sort of steady out throughout the course of the day. obviously a lot of talk this morning on wall street about, you know, what happened over the weekend, you know, with cyprus. at the end of the day i think the market pretty quickly di
. who would ever think how quickly a sports team can change or political election. most importantly in stocks. this thing has gone from 60 down to almost 11. this move to 22, we think it's got leg. we think it's going up 25, 26. >> we'll give you props. you called for this earlier this year. we'll point that out. >> thank you. >> good job on that. abigail, what to you think? fundamentally, richard schultz, is it good he's coming back? >> i think it's a sell on the news type of event. i think while it's positive his 20% in the company is less likely to be sold, i think that it does not change the fact this company has a very difficult turnaround ahead of itself. it's playing in a low growth space with very price transparent products. that sort of commodity like aspect to its business does not give it a lot of flexibility to make a turnaround. you can only close so many stores, cut so many people. it's really hitting the bottom line. if you look two years ago this company put up 364 in the bottom line for the year expected to be reported next february, they're looking for 219. i think
to the changes that we saw in the church when frances of the cici initiated a great deal of changes within the catholic church. >> mary, you know, there was some debate early on, basically about whether or not they were going to go with a younger candidate for, who would be the pope for a longer period of time, which would give him the chance to rebuild the church, to grow the church, to set out his mission and complete his mission. yet the other side of the coin was, that they wanted an older pope that had more pastoral experience, and also, more global experience. so to bill's point, i wonder if they compromised a little bit on the age issue, in order to get the growth side of the equation. >> it could certainly be one of the reasons. of course, you know, we will see, in the coming hours, i'm sure we'll hear more and more about what happened. but here's just a couple of pieces of information. i'm struck, i'm getting some information on him as we go. there is a description of him, saying he is a man of great simplicity, who can often be found walking the streets of buenos aires to meet an
to buy an oil refinery, and some major changes to your sky miles frequent flyer program. that and much more coming up on this most important hour of the trading day. ♪ ♪ i don't want any trouble. i don't want any trouble either. ♪ [ engine turns over ] you know you forgot to take your mask off, right? [ siren wailing in distance ] ♪ [ male announcer ] introducing the all-new beetle convertible. now every day is a top-down day. that's the power of german engineeri >>> welcome >>> welcome back. we have breaking news on cyprus right now. we want to get michelle caruso-cabrera. she's on the phone live from cyprus. what can you tell us? >> reporter: the head of the central bank of this country is urging parliament to pass a new law that would give him the ability to wind down one of the troubled banks in this country. this is a signal of the solution that they're finally going to try to seek in terms of getting out of this crisis. right now, he doesn't have the authority to shut down one of the banks, which is pretty odd. most countries, the central bank does have the authority to s
Search Results 0 to 19 of about 20